Jet Airways

'The liquidator shall endeavour to sale the company as a going concern within a period of 90 days,' says NCLT in its order

Money laundering case: Jet Airways founder Naresh Goyal gets medical bail

In May, the High Court granted interim bail to Goyal for a period of two months which was later extended by four weeks and then again for two months.

Jet Airways' 1.43 lakh retail shareholders staring at wipeout after Supreme Court's liquidation order

Retail shareholders held a 19.29 percent stake in the grounded airline as on September 30. At the current market capitalisation, their holding is worth Rs 74.6 crore

Supreme Court directs liquidation of Jet Airways

The apex court allowed appeal by State Bank of India and other creditors; bank guarantee of Rs 150 crore submitted by JKC was also forfeited

SC reserves verdict on plea against NCLAT order transferring Jet Airways to winning bidder

The NCLAT had on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to the JKC.

Creditors delayed resolution process for Jet Airways, winning bidder tells SC

The National Company Law Appellate Tribunal (NCLAT) on March 12 had upheld the resolution plan of the grounded air carrier and approved the transfer of its ownership to the consortium.

SpiceJet stock zooms nearly 5% amid optimism over Rs 3,000-crore QIP; airline's shares jump 21% in 6 sessions

SpiceJet has been struggling financially since the past few quarters due to legal disputes involving outstanding debts to lenders, aircraft and engine lessors among other issues.

Resolution plan at implementation stage; FY24 results delayed: Jet Airways

Jet Airways, which stopped flying in April 2019 due to financial crunch, is undergoing an insolvency resolution process.

Jet Airways: NCLAT refuses to entertain Jalan Kalrock's plea to keep Rs 200 cr in escrow

JKC chose to withdraw the plea after the appellate tribunal opined that it was not inclined to entertain the plea. NCLAT opined that JKC could not have filed an application before it while an appeal against its order is pending in the Supreme Court.

Challenge Group says it may pull out of Jet Airways aircraft deal, seek return of money with interest

Michael Koish, Chief Investment Officer of Challenges Airlines, which won the bid for three of Jet Airways' Boeing 777-300 aircraft, told Moneycontrol that the bankrupt airline's monitoring committee has become unresponsive despite court orders to hand over possession of the aircraft.

Jet Airways resolution plan has become a joke: Airline's lenders tell Supreme Court

Senior advocate Mukul Rohatgi, who appeared for JKC vehemently denied these allegations. According to Rohatgi, JKC never availed the offer made by the lenders since they were anyway supposed to make a payment of Rs. 350 crore. Rohatgi also argued that JKC has spent Rs. 700 crore so far in trying to revive the airline despite the lenders objecting to every move they make.

Jet Airways founder Naresh Goyal granted two-month interim bail on medical grounds

Naresh Goyal had sought bail citing his and wife's cancer treatment, who he said was in a critical condition.

Ace aviation moves NCLT over difficulties in purchasing Jet Airways aircraft despite SC order

According to the plea, accessed by Moneycontrol, Ace is compelled to file the plea owing to the monitoring committee's delayed and non-co-operative actions regarding the sale of certain aircraft of Jet Airways.

ED opposes interim bail to Jet Airways founder Naresh Goyal; HC to pass order on May 6

Naresh Goyal has sought interim bail on medical and humanitarian grounds, citing that both he and his wife, Anita Goyal, suffered from cancer.

'Shocking order': SBI on NCLAT upholding transfer of Jet Airways' ownership to Jalan Kalrock Consortium

Though the court was inclined to issue notice in the case, the ASG urged the court to finish hearing the case and pass an order rather then issuing notice now and keeping it pending. The SC, accordingly, has kept the case for hearing on Friday (April 26).

'Incorrect analogy': Jet Airways ex-CEO designate reacts to Anand Mahindra's post on Dubai floods

Both Jet Airway ex-CEO designate Sanjiv Kapoor and Anand Mahindra, however, reached a mutual understanding after a few clarifications on X.

Bail not likely to improve Naresh Goyal's health, he is getting best possible treatment: Court ruling

The court had, in February 2024, denied interim bail to Goyal when he sought relief on the ground that he was suffering from cancer.

99% wipe out guaranteed in the near-term if you invest in this sky-bound stock

Jet Airways has gained 11 percent over the past five trading sessions on the news of the resolution plan being approved

NCLAT upholds transfer of ownership of Jet Airways to Jalan Kalrock Consortium

The appellate tribunal has directed lenders to effect the transfer in 90 days, and told the consortium to procure an air operator's certificate with in this window.

Why it is difficult to revive airlines in India? What stands in the way of Go First's and Jet Airways' revival?

Airlines in India have to deal with various costs such as high jet fuel prices, high leasing costs, (Indian airlines pay annual lease rents of about Rs 10,000 crores to lessors) and several charges to airport operators, such as separate charges for landing, route navigation, parking, terminal, fuel, and royalty.

SC junks Jalan Kalrock appeal against sale of Jet Airways aircraft

Three aircrafts belonging to the grounded airline are to be sold to a Malta based company called Ace Aviation.

MC Explainer: One year on, Jet Airways ownership dispute still rages

Jet Airways, which was grounded in 2019 amid mounting financial vows. State Bank of India (SBI) its largest lender initiated insolvency proceedings against the company in NCLT Mumbai and the company was admitted to insolvency resolution process the same year. In 2021, JKC emerged as the successful resolution applicant to re-commence the operations of the airline.

Jet Airways founder Naresh Goyal has malignancy, confirms Mumbai hospital: report

Naresh Goyal's lawyer Aabad Ponda submitted the reports confirming that he had malignancy and added that there would be no further treatment available for him in jail and his client had every right to undergo treatment at a private hospital.

Jet Airways case: SC dismisses Jalan Kalrock's plea on new payment plan

The consortium in its application had said that if the court permits the release of the existing bank guarantee, the amount will be infused to the designated share application account of the lenders.

Jet Airways case: Setback for JKC as SC directs it to deposit Rs 150 crore in 2 weeks

The court has held that in case JKC does not furnish the bank guarantee, the consequences of law will follow. The NCLAT will now have to decide the appeal by State Bank of India challenging the transfer of Jet Airways' ownership to JKC by end of March 2024.